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1882 words - 8 pages

c. Inter-branch Transactions:
All the transactions related inter-branch cash transfers of this audit term has verified with payment/receipt vouchers along with related responded vouchers, Cash movement register and found to be correct. The balance between H.O. Books and Branch books tallied up to 03.11.2013.

2. DEBENTURES
The balance between Debenture Outstanding and Trail Balance has not tallied a difference of Rs.4000/- found. {A/c. No.19, 27, 23 and A/c. No.24, Rs. 1000/- each,}

3. PERSONAL LOANS
1. The branch obtained fully filled and duly signed Personal Loan Applications from the applicants, but not properly obtained approval from The Regional Manager. According to circular No.CO /CIR /ADMN/RJ:13/130, dated 12.07.2013, and the branch must obtain approval from the Regional Manager.
2. The branch has filed PL application and its related securities separately, PL application along with related securities to be filed in one file.

4. GOLD LOAN
The gold loan outstanding as on 2013 was Rs/- of Packets.
After verifying Cash Balance, gold packets in the Safe Room has physically counted and compared with the balance shown in the In&Out Ledger and the balance shown in System Outstanding Report,
As per In & Out ledger, Outstanding ledger (system) & Status Report : 209
In Safe Room Rack : 209
Gold Loan IN&OUT Register: Properly updating entries observed.

KYC NORMS – RELATED WITH GOLD LOAN ADVANCES
Regarding KYC against Gold Loan Advances, during this audit coverage period, KYC’s are verified with related records and the branch has obtained 100%
1. According to Circular No.CO/CIR/ADMN/RJ: 13/50, dated 12/04/2013, the branch has not properly uploaded photos and the branch has not at all scanning and uploading specimen signatures in the system, while verifying, out of nos., of new members, nearly Nos., new customers photos has not scanned.
Sl. No. Date Personal No. Name
1 07/08/2013 100066165 Mr. PERUMAL PILLAI.K
2 29/11/2013 100078180 Mr. MOHAN

As per our Circular No: CO/CIR/ADMN/RJ: 12/75, dated 23/07/2012, the branch has not obtained fingerprints (thump impression of the customers) and not taken sidewise photographs of the individuals.
VERIFICATION GOLD LOAN PACKETS
Sl.No Particulars No. of Gold Loan
Packets Verified Sl. No. of Stickers used DPN Nos.
01 Normal verifications 41 A552523 – A552563 711 – 761
Note : no irregularities observed in GL advances

a. List of pledges under low weight ornaments
– 18 Nos., of Advances, (Total amount of Rs.64,800/- , and Weight of 42.900gms.,)
– Corporate Office has firmly instructed that, branches should avoid small ornaments like studs, baby ornaments, Ear Rings, which individual weight is less than 4.000gms, especially stone studded ornaments. If pledged along with other higher value ornaments the above said ornaments weight has to be taken as 50% of their original weight.

b. List of GL Advances closed without obtaining both Token and indemnity bond
– Gold loan closure tokens verified...

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